Part 4/10:
In response to these economic signals, President Trump did not hold back his criticism of the Federal Reserve, accusing Chair Jerome Powell of inaction. Just six minutes after the May jobs report was released, Trump posted on Truth Social urging Powell to lower interest rates, referencing the multiple rate cuts enacted by Europe. He argued that these moves are necessary to cushion the economy from trade tensions and the fallout from tariffs.
While the Federal Reserve has maintained a stance of patience—keeping interest rates steady throughout the year— recent data points show signs of slowing growth. Importantly, the Fed's mandate excludes trade policy, yet it often finds itself blamed for economic weaknesses that stem largely from policy uncertainty and trade disputes.